MetalsTech Limited (ASX: MTC) has obtained further quality assay results from underground drilling at the company’s wholly-owned Sturec Gold Mine, located in Slovakia.
The results are from hole UGA-46, which was completed from Drill Chamber III, together with further assay results from Drill Chamber IV as part of the Phase IV diamond drilling program at Sturec.
The company is currently drilling from Drill Chamber IV, with the assay results from UGA-47, UGA-48, UGA-53, UGA-54, UGA-55, UGA-56, UGA-57, UGA-58 and UGA-59 being received. The company is awaiting results from UGA-60, UGA-61 and UGA-62 and is currently drilling UGA-63.
Highlights
* The company expects to receive an independent update to the Mineral Resource Estimate for the Sturec Gold Project shortly which will feed immediately into the Pre-Feasibility Study
* New assay results indicate the overall mineralized zone in UGA-46 has greatly improved from 113.0m @1.16g/t Au and 17.4g/t Ag from 0m (0.25g/t Au cut-off, downhole thickness; refer to MTC announcement dated 8 November 2022) to:
➢ 132m @1.51g/t Au and 16.2g/t Ag from 0m (0.25g/t Au cut-off, downhole thickness)
* The 113-126m zone in UGA-46 has now been determined to be included in a wider, higher grade zone of 33m @2.29g/t Au & 9.3g/t Ag from 99m (0.4g/t Au cut-off, downhole thickness), including:
• 9.0m @7.29g/t Au & 13.3g/t Ag from 123m (0.5g/t Au cut-off, downhole thickness); incl. 1.0m @43.6g/t Au & 61.4g/t Ag from 127m (no Au cut-off, downhole thickness)
The drilling from Drill Chamber III was designed mainly to increase the confidence of the southern extent of the existing Sturec Mineral Resource, as well as potentially extend the mineralization within the existing Sturec Mineral Resource at depth. The drilling from Drill Chamber IV was designed mainly to potentially extend the mineralization within the existing Sturec Mineral Resource to the south, especially down dip/plunge.
“Drilling at Sturec continues to deliver significant gold intersections. We are days away from receiving an independent update to the Mineral Resource Estimate and look forward to transitioning to a significant gold development story and progressing pre-feasibilty study works,” Executive Director, Gino D’Anna, said.
For further information please visit: https://metalstech.net/
